Which regions of Uzbekistan showed the greatest business activity in February 2023 (+infographics)
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Analysis of business activity is monthly calculated by CERR on the basis of operational data. (monitoring in all regions of the republic, according to the data of the State Customs Committee, the State Tax Committee, the Central Bank and the UzEx).
The monitoring results showed that the volume of tax revenues of the republic in February this year increased by 10.9% compared to the same period last year.
At the same time, a significant increase in tax revenues was recorded in the Jizzakh (+39.5%), Tashkent (+25.7%), Navoi (+23.4%), Samarkand (+22.3%) and Andijan (+19.4%) regions, in the Republic of Karakalpakstan (+21.1%) and in Tashkent (+26.9%).
In terms of tax revenue sources, VAT increased by 15%, income tax by 24%, property tax by 31% and land tax by 18%, maintaining growth until the end of the month.
Receipts on customs payments for the analyzed period increased by 22.4% compared to the same period in 2022. The largest increase in customs receipts was observed in Surkhandarya (+47.3%), Samarkand (+39.0%), Tashkent (+25.9%), Fergana (+19.2) and Jizzakh (+16.0%) regions, in the Republic of Karakalpakstan (+67.4%) and Tashkent (+45.0%).
The increase in customs revenues is mainly due to an increase in import volumes by type of goods by almost 26% compared to the same period last year, including transport equipment and its components, technical equipment, electrical engineering and its components, as well as food.
According to the State Customs Committee, the volume of exports of goods from the beginning of this year to February 28 increased by 3.1% compared to the same period last year. Export growth was observed in Navoi (+129.0%), Andijan (+46.9%), Syrdarya (+43.9%), Khorezm (+38.0%) and Kashkadarya (+10.4%) regions, and in Tashkent (+3.5%).
The increase in Uzbekistan’s exports is explained by the growing growth rates of exports of food products, industrial goods, chemicals and agri-food products.
The decrease in exports occurred in Ferghana (-24.2%), Bukhara (-20.3%), Tashkent (-16.2%), Jizzakh (-12.9%), Samarkand (-7.9%), Surkhandarya (-7.4%) and Namangan (-4.4) regions, in the Republic of Karakalpakstan (-14.9%).
The decrease in exports in the Bukhara region is due to the direction of cotton fiber to the domestic market and a reduction in exports of oil and petroleum products, in the Fergana, Jizzakh and Namangan regions – reduction in yarn exports, in the Tashkent region – reduction in exports of metals and products made from them, in the Samarkand region – reduction in exports of fruits and vegetables and yarn, in the Surkhandarya region – reduction in exports of yarn and food products, and in the Republic of Karakalpakstan – reduction in exports of plastics and products made of them and yarn.
The volume of loans issued by commercial banks in the period from January 1 to February 28 this year increased by 41.3% compared to the same period last year.
A significant increase in the issuance of loans was noted in Jizzakh (+122.6%), Syrdarya (+50.7%), Khorezm (+45.9%), Kashkadarya (+38.5%) regions, and in Tashkent (+74.9%).
The volume of transactions on the UzEx for the analyzed period increased by 20.1%. A significant increase in exchange activity is observed in Syrdarya (+102.0%), Kashkadarya (+72.4%), Samarkand (+55.1%) and Surkhandarya (+46.8%) regions, and in the Republic of Karakalpakstan (+51.4%) and Tashkent (+6.9%).
The growth in the volume of transactions in these regions is ensured by increasing the sale of goods such as cotton fiber, wheat flour, wheat, liquefied gas, mineral fertilizers, technical seeds, automobile gasoline, diesel fuel, construction and household materials, sugar, rolled ferrous and non-ferrous metals, polyethylene, etc.
During the analyzed period, 15,404 new economic entities were created, the largest number of which were registered in Samarkand (1,391), Kashkadarya (1,346), Ferghana (1,340), Tashkent (1,167), Khorezm (1,059), regions and in Tashkent (3,012).